Singapore’s financing platform Validus Capital deploys $73m for SME funding

Ajit Raikar, Co-Founder & CEO, Validus Capital

Singapore-based online financing platform Validus Capital has deployed over S$100 million ($73.44 million) for small and medium enterprises (SMEs) funding in the city-state on its platform, it said in an announcement Wednesday.

Established in 2015, Monetary Authority of Singapore-licensed Validus has financed more than 1,400 loans with approvals given out in under 24 hours. It focuses on providing peer-to-peer financing to reduce financial intermediation costs and hasten the access to capital for business expansion.

The average funding amount is S$70,000  ($51,408) per request, said Validus, adding that it has received funding request from various industry classes.

“We have innovations in the pipeline that will give SMEs even more capital flexibility and choice to suit their business strategies, accelerating Validus towards our billion-dollar financing milestone by mid-2020,” said Validus co-founder and CEO, Ajit Raikar.

In May, Validus had launched a S$20 million ($14.92 million) SME financing fund in partnership with asset and wealth manager Lighthouse Canton Group. It has raised a $3 million Series A round from Vertex Ventures, the venture arm of Temasek Holdings, last July.

Vertex Holdings CEO, Kee Lock Chua commented: “As a lead investor and primary partner when Validus first started out, Vertex has been able to see first-hand how it has positively impacted SMEs to accelerate their growth and capabilities. While investment returns are important, what we value the most are companies that solve challenges and have societal impact – that’s exactly what Validus is doing.”

Validus also worked with various financial partners including Visa, EQ Insurance and National University of Singapore to boost the local P2P lending ecosystem.

Against the backdrop of an S$20 billion SME financing gap in Singapore, Validus Capital aims to finance at least S$1 billion ($750 million) of the gap in the coming three years and it aims to raise a Series B by end of the year, Raikar had told this portal.

Also read:

SG: Vertex-backed Validus Capital sets up $15m SME fund, eyes regional expansion

Singapore: Vertex Ventures invests $3m in Validus Capital’s Series A round

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.